SBA Loan from Comerica Bank Helps Home Furnishings Stores Company

Comerica Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans.

Getting a small business loan in Santa Cruz, California was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
SANTA CRUZ, CA 95062

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

6/6/2001

Loan Approval Gross Amount

$118,400

Loan Approval from the SBA

Of the total $118,400 loan amount, the SBA guaranteed $100,640.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 11 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Santa Cruz CA, you ought to talk with a local Santa Cruz SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Santa Cruz businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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